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Individuals and Families

Video

The Future is Gray, Delayed, Small, and Female

At our annual client event, Dr. Joe Coughlin, founder of the MIT Age Lab, shares how drastically retirement has changed over time, the technologies MIT is researching and building to help people age, and how demographics are driving a longevity economy we should all be aware of.

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Blog

Working Wealthy – Fish Brain

Let’s be honest—2020 was a bit of a dumpster fire for many of us. Between the pandemic, a contentious election, separation from family and friends and a myriad of other pitfalls, 2020 is something many of us would like to soon forget. The symbolic act of turning the calendar page from December 2020 to January […]

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Blog

College Costs – Where Are They Going?

The cost of college may arguably be the most expensive item parents plan for during their child’s life.  The sticker shock of tuition, fees, and room and board charges may cause a sense of panic for parents when thinking about how to save for college or wondering how much college will cost in the future.  […]

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Wealth Watch

Driving into the S&P – What Can We Observe from Tesla’s Addition?

Before the market opened up Monday, there was a splash.  Tesla, a company worth more than $600B, was officially added as a behemoth to the famous index.  And, behemoth is not overexaggerating.  Keep in mind, the next largest car company by market cap is Toyota, with a market cap of a little over $210B.  Ford, […]

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Blog

Watching the Sunset – Current Estate Tax Laws vs New Proposals

With the presidential election behind us and Joe Biden entering the Oval Office in January, questions and uncertainties still exist regarding his proposed tax package. With the “Blue Wave” of Democratic control over the White House, Senate, and House of Representatives seemingly less likely, major tax reform that was a pillar of Biden’s presidential platform […]

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Blog

How to Lower Your Tax Bill With Deferred Compensation

Non-qualified deferred compensation plans are an area of increased activity, with year-end planning and tax uncertainty. Executives and key employees can take advantage of managing today’s still-low tax brackets while staging a custom payout plan in retirement at potentially lower rates. First, it’s important to understand how these plans work and what the pros and […]

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Video

Post Election 2020 – Where Do Taxes Go From Here?

On November 17th, we hosted a virtual conversation with BDF’s income and estate tax planning experts during which we shared our insights on what the results of the election mean for estate and income tax changes in the future as well as what you need to consider before year-end given the potentially changing landscape. We […]

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Wealth Watch

The Election is Behind Us So Now What?

The dust has mostly settled on what was a long and contentious presidential election campaign. What remains to be seen is if there will be a unified or divided government come January 2021, depending upon the outcome of two Senate run-off races in Georgia. No Blue Wave in Washington Regardless of what happens in Georgia, […]

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Blog

Working Wealthy – Time Passing, Fast and Slow

I’m guessing Daniel Kahneman will never read this blog, so he won’t be offended by my riff on his Thinking, Slow and Fast book title. Pardon the term, but in these days of COVID-19, time seems to have taken on a very different meaning and reality. And, being a relatively new parent, I’m acutely aware […]

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Wealth Watch

Are We in Another Tech Bubble?

Are we in a tech bubble? It’s hard to ignore that question when the tech-heavy NASDAQ Composite is up 33% through November 9, besting the runner-up S&P 500 Index by over 20%. Tech companies are the perceived winners in a post-Covid world, resulting in soaring stock prices with no end in sight. It begs the […]

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Blog

Potential Changes to the Illinois Tax System From JB Pritzker’s Fair Tax for Illinois Proposal

In March of 2019, information was released regarding Illinois Governor JB Pritzker’s proposed tax plan, otherwise known as the Fair Tax for Illinois. Here are a few of the key items included in the proposal that would impact both individual and corporate taxpayers in the state of Illinois: Individual Changes Tax System Structure:  The current […]

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Blog

Estate Tax Exemption – Use it Now!

Federal tax law levies a tax on the value of assets you own at death.  The estate tax is levied at a 40% rate and can severely impact the transfer of wealth to future generations.  Many business owners are simply unaware that the value of their business exposes them to the tax and that may […]

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